Market in a Minute

Market in a Minute & StatPak January 2019

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC, Montgomery County and Prince George’s County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - January 2019 StatPak with Contract Snapshot from December 2018

CONTRACTS:Contract activity in December 2018 was up 17.8% from December 2017 and was up for all six price categories. For the full year, contract activity was down 0.5%. The average number of days on the market for homes receiving contracts was 51 days in December 2018, down considerably from 66 days in December of last year.

Loudoun County - January 2019 StatPak with Contract Snapshot from December 2018

CONTRACTS:Contract activity in December 2018 was down 5.4% from last December and was down in four of the six price categories. For the full year, contract activity was down 2.1%. The average number of days on the market for homes receiving contracts was 51 days in December 2018, down from 57 days in December of last year.

Montgomery County - January 2019 StatPak with Contract Snapshot from December 2018

CONTRACTS:Contract activity in December 2018 was down 10.1% from December 2017 and was down in five of the six price categories. For the full year, contract activity was down 4.3%. The average number of days on the market for homes receiving contracts was 62 days in December 2018, down from 72 days in December of last year.

Prince George's County - January 2019 StatPak with Contract Snapshot from December 2018

CONTRACTS:Contract activity in December 2018 was down 5.2% from December 2017 but was up slightly for homes priced more than $500,000. For the full year contract activity was up 10.0%, the best in the metro area. The average number of days on the market for homes receiving contracts was 58 days in December 2018, up from 49 days this time last year.

Washington, DC - January 2019 StatPak with Contract Snapshot from December 2018

CONTRACTS:Contract activity in December 2018 was down 4.7% from December 2017 and was down in three of the six price categories. For the full year contract activity was down 2.8%. The average number of days on the market for homes receiving contracts was 52 days in December 2018, up from 50 days in December of last year.